The $1000 iPhone X is a great deal - Apple CEO

Tim Cook announced the $999 iPhone X at a September 12 keynote at the newly unveiled Steve Jobs Theater Getty

Kayla Schwartz
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20 September, 2017, 15:24

"Most people are now paying for phones over long periods of time", Cook said.

The new device comes with a new all-screen design. "It's a value price, actually, for the technology that you're getting", the Apple CEO argued. And so, very few people will pay the price tag of the phone initially. But if iPhone X sales go through the roof, then clearly there's a fair value in the device reflected in the price.

Apple announced the iPhone X last week, and it will be available to pre-order October 27, and ready for shipping November 3. When you look at it, the iPhone in particular has become so essential in our daily lives, people want it do more and more and more.

The iOS update includes AR, or augmented reality, capabilities, offering the technology to Apple users with an iPhone 6S or later.

Cook nodded and answered in the affirmative, seemingly prepared for the question. Certainly, during the keynote last week, Apple execs highlighted how many formerly independent gadgets - like MP3 players and standalone cameras - the iPhone had absorbed and replaced over the years. "Our objectives are not big revenues", Cook said. "We're taking the complex and making it simple. we want everybody be able to use AR".

It's clearly not a topic that Cook was unprepared to face, as he doubled-down on the argument that you're paying for convergence.

Cook has made such ostensibly anti-capitalistic affirmations before.

He also claimed most consumers won't be forking over a grand for the iPhone X Many choosing to pay over time, while others will benefit from mobile network subsidies, Cook said.

The average selling price for an Android smartphone (excluding the wireless service contract) is $254, according to The Wall Street Journal, well below Apple's average of $687. Being a device that requires important components such as the edge-to-edge OLED display or the camera sensors, the iPhone X might be hard to get until 2018.

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